On January 1, 2018, Elyse Company acquired all the outstanding ownership shares of Wing Company. In assessing Wings acquisition-date fair values, Elyse concluded that the carrying value of Wings long-term debt (12-year remaining life) was less than its fair value by $120,000. At December 31, 2018, Wing Companys accounts show interest expense of $200,000 and long-term debt of $2,500,000. Elyse's separate stand-alone financial statements did not have any debt or interest expense in 2018. On the December 31, 2018, consolidated income statements of Elyse and its subsidiary Wing, interest expense was